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Swift & Co carves away $71.7 million in debt

Swift & Co, the Greeley CO-based beef and pork products processor and distributor, reduced debt by $71.7 million in the 249 days ended May 25, 2003. The company ended the fiscal year with $64.9 million in cash on its balance sheet.

Fiscal fourth-quarter 2003 net sales totaled $2.183 billion, and net income was $18.5 million. This compares with prior-year fourth-quarter net sales of $2.147 billion and net income of $23.1 million for the predecessor entity.

For the 249 days ended May 25, 2003, net sales were $5.739 billion with net income of $39.3 million.

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